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What is earnest money and why its necessary?

April 26, 2017cities credit earnest Estate forum money necessary

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What is earnest money and why its necessary?

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When you are serious about purchasing a home you make an earnest money contract with the seller to agree to purchase the home for a certain price. 99.9% of earnest money contracts are all the same as far as percentage, amount of time you have to back out, etc.